Euro pulled off from weekly highs overnight as Brexit voting dominated headlines during the European trade session. Falling from open at 1.1330, the EUR/USD saw little price action, stabilising above the 1.1300 handle.
Final German Inflation figures in February increased 0.4% monthly but was up 1.5% in February 2019 compared to the same period last year, energy prices were the main catalyst for the increase in yearly numbers. With inflation figures well below target levels of 2.0%, the ECB is in no rush to increase intertest rates following their more dovish stance in last week’s monetary policy statement.
The EUR/USD opens this morning at 1.1305 with final CPI figures for the European Union on the agenda this evening.